Sanctions: Iran will have to bank on India

May 21:
So far, Iran has been maintaining a tough face and not offering any special conditions to oil buyers even as it faces looming US sanctions.8But as sanctions bite, it will act as it did in 2012–15, offering discounts and extended payment terms up to 90 days.8It will accept payment in rupees to lure India in particular8Higher oil prices, already in evidence, will partly cushion some loss of exports. 8Iran will deploy its array of front companies, use its own tanker fleet (the largest in the Middle East), disguise ship names and locations, and conceal crude origin by blending with that of other countries. Click on Reports for more